Sydney Metropolitan Area Only!
Residential Property Valuation
When ordering your Residential Property Valuation, please supply as much information as you
If the property is tenanted or managed by a Real Estate Agent, additional information may be
required for access purposes. Please contact your Managing Agent or tenant and inform them about
forthcoming inspection. If you are dealing with difficult tenant, please inform the valuer and be
prepared for delays.
What is a Residential Property Valuation Report?
Residential Property Valuation report is a formal, comprehensive, independent and objective assessment of the
property’s condition and its current value. Among the features of a property valuation report are:
Residential Property Valuation Report is a legal document prepared by an accredited property
valuer and has standing in law courts and with government authorities, because the valuer is legally and
professionally responsible for the accuracy of information contained in the report. It is prepared by the sworn
valuer using a combination of onsite factors, assessment of the land and the improvements, research into current
market data for similar properties, and the valuer’s skills and experience.
Residential Property Valuation Report is a comprehensive document containing specific information including not
only the valuation figure but a range of data to support the valuer’s assessment of the property’s value. It has
details such as the property’s location, ownership history, current condition, particulars of the land and
environment, and the number and sizes of rooms. There is a valuation section showing how the property valuation has
been calculated based on all of the pertinent factors.
Why Do You Need A Residential Property Valuation?
There are many reason why one needs a Residential Property
Vlauation, more common being the following:
Buying or Selling: The most common reason for a Residential
Property Valuation report is when you are buying or selling a property and need to have a reliable assessment of
its value. Because of the large sums of money involved it is prudent to have an accredited valuer produce an
independent objective Residential Property Valuation Report to help in your decision making when you are
considering selling or buying a property. If you don’t get a property valuer to look at the property then you will
run the risk of selling for less, or paying more than the property is worth.
Refinancing: It is a requirement of
mortgage lenders who need an independent objective assessment of a property’s value when determining how much can
be borrowed to buy the property. It is different from the market-based informal valuations of a property’s worth
that you might get from sources such as an online property valuation calculator or a real estate agent’s estimate.
Residential Property Valuation Report for mortgages and for litigation must be carried out by accredited valuers
who take legal responsibility for their work. They provide an objective but conservative valuation of your property
based on both its physical features and recent sales prices for similar properties.
Family Court Proceedings: Residential Property Valuation
Report is needed determine the value of assets to be divided as part of matrimonial settlements.
Probate and estate litigation matters: Residential Property
Valuation Report is needed to establish the value of real estate property being distributed under the terms of a
Local Authority Rating and State Land Tax Matters: Residential
Property Valuation Report is needed if you disagree with an authority’s valuation of your property and want to
challenge it in the Court of Law.